Young Entrepreneurs Academy Inc
- Assets
- $43.2k
- Revenue
- $262.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Pittsford, NY
- Founding
- 03/2009
- Data as of
- 06/2022
- EIN
- 30-0513715
Organization Overview
Young Entrepreneurs Academy Inc is located in Pittsford, NY. The organization was established in 2009. According to its NTEE Classification (O53) the organization is classified as: Youth Development - Business, under the broad grouping of Youth Development and related organizations. As of 06/2022, Young Entrepreneurs Academy Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Young Entrepreneurs Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Young Entrepreneurs Academy Inc generated $262.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (19.4%) each year. All expenses for the organization totaled $362.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (13.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A GROUNDBREAKING PROGRAM THAT TAKES STUDENTS IN GRADES SIX THROUGH TWELVE THROUGH THE PROCESS OF STARTING AND RUNNING A REAL BUSINESS OVER THE COURSE OF A FULL ACADEMIC YEAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE YOUNG ENTREPRENEURS ACADEMY (YEA) IS A GROUNDBREAKING AND EXCITING PROGRAM THAT TRANSFORMS LOCAL MIDDLE AND HIGH SCHOOL STUDENTS INTO REAL, CONFIDENT ENTREPRENEURS. THROUGH THE YEAR-LONG PROGRAM, STUDENTS IN GRADES 6-12 GENERATE BUSINESS IDEAS, CONDUCT MARKET RESEARCH , WRITE BUSINESS PLANS, PITCH TO A PANAL OF INVESTORS, AND LAUNCH THEIR VERY OWN COMPANIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gayle Jagel President & CEO | OfficerTrustee | 40 | $150,000 |
Phil Saunders Director Part Year | Trustee | 0.2 | $0 |
Jack Baron Director | Trustee | 0.2 | $0 |
Patty Redding Director Part Year | Trustee | 0.2 | $0 |
Troy Mclellan Directorchair | OfficerTrustee | 0.2 | $0 |
Kevin Halpin Secretary | OfficerTrustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $88,766 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $88,766 |
| Total Program Service Revenue | $173,663 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $262,429 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $192,554 |
| Compensation of current officers, directors, key employees. | $36,585 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,788 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,424 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,028 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,000 |
| Office expenses | $8,926 |
| Information technology | $10,079 |
| Royalties | $0 |
| Occupancy | $51,758 |
| Travel | $1,372 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $222 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,535 |
| All other expenses | $22,134 |
| Total functional expenses | $362,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,212 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $43,212 |
| Accounts payable and accrued expenses | $1,511 |
| Grants payable | $0 |
| Deferred revenue | $101,090 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $102,601 |
| Net assets without donor restrictions | -$59,389 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $43,212 |